Volatility is creeping into traditional markets at the same time as the S&P500 having hit a key level. Additionally, the U.S. dollar index may have given up its idea of staging a counter-trend and gold rebounded well from the low (and silver trading higher overnight (now eased but trending higher).
BTC is doing something similar to gold, where it looks like it is in a holding pattern, but both assets look bullish.
The combination of equities hitting a key level, gold and bitcoin looking primed, volatility index increasing, record enthusiasm at record prices and the state of affairs means that we might see some moves the next 2 weeks. At a guess, we think equities lower, gold and bitcoin significantly higher, and the dollar index making the break it has been threatening to do.
Of course, we had been waiting for this for a couple of months and have been behind the market on it, but the USD does now look like it has stopped its sideways action and failed counter-trend.
Bitcoin has recovered mildly from its low, taking the edge out of its bearishness. With the USD moves, it is a real candidate to make a serious move when USD begins to trade decisively lower. BTC last traded at $11,695.
24 hr high: $ 11,778
24 hr low: $ 11,570
Eth has been outperforming BTC of late and really looks like it wants to go a lot higher.
24 hr high: $ 439
24 hr low: $ 418
Ethereum USD Chart
We have seen some good moves in assets overnight, with promising bids amongst some of the usual places.
|Asset||Code||Price (USD)||24hr Change (%)||Volume||Market Capitalisation|
|Universal Market Access||$UMA||22.62||44.21637||66755920||1249917252|
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